As a homeowner, it's important to remember that your home is not just where you live, but also a huge investment. Most people's main goal is to enjoy their home for many years. In addition, you should always keep in mind making your initial investment profitable. In other words, you want your home to maximize its equity and value. Though homes acquire profit gradually, they usually don't do so instantaneously. Typically, property value goes up by double what your initial investment was.
If increasing your home's worth is something you could be interested in, it may be about time to start considering making an upgrade or two. Remodeling, improving, and even restoring certain features of your property can increase its value. Adding the proper changes and correcting the right things can build value moderately.
Here are just a few unbeatable ways you can expand the value and equity of your property:
#1: Landscaping
In Southern California, landscaping can raise your property value anywhere from 5% to 15% - and in some instances, more. Landscaping tends to add the most value but takes the longest to achieve. Therefore, it should be one of the first upgrades you consider. Planting trees creates a substantial influence on your home's worth and the neighborhood you live in. Trees don't just enhance curb appeal, but they also produce shade for outer lounging areas and assist in lowering cooling costs, which can help increase property value and equity.
Accentuating your property with landscape lighting has swiftly become one of the most profitable landscaping attributes for homebuyers. Amidst quality lighting, you can brighten the outside of your property and even enhance home security! If boosting your electric bill is one of your concerns, solar or LED lights can be great alternatives.
Low-maintenance landscaping is another great way to better your curb appeal and home value. Succulent gardens call for hardly any watering, while rock gardens require almost no upkeep, besides substituting lost rocks here and there.
#2: Replace An Outdated Kitchen
A kitchen is one of the most influential to any potential home buyer. In most cases, you can depend on a new kitchen to improve your property's equity. It is most common for buyers to pay more for chic and sophisticated introspective upgrades and completions. An updated kitchen can assist your home in catching the eye of expected buyers, benefiting you in selling your property faster, as well as getting top dollar.
What if you don't plan on selling your home anytime soon? Having a new beautiful kitchen you adore can often influence your everyday lifestyle in optimistic ways. Upgrading your kitchen is a great investment, whether you plan to increase your property value to sell or for your family's benefit!
#3: Remodel A Bathroom
A bathroom is a crucial part of every home. Your property's worth can be increased tremendously by remodeling one of its bathrooms. Not only does it boost the enjoyment and amenity of living in your home, but it also amplifies the value and equity of your real estate.
Your bathroom should be somewhere for you to relax. If that's a main priority for your bathroom, you should start considering adding a bathtub. Showers just don’t bring out that calming atmosphere for some of us. If space isn't one of your concerns, installing a separate tub and making it the heart of your bathroom could be a perfect move. If you are limited on space, adding a shower bench could be just the right add-on for your walk-in shower.
#4: New Paint
The common goal here is to maximize your property value. This is why you need to reconsider repainting the interior and exterior of your property. These projects will make a huge difference in curb appeal and property value at a low cost.
The very first thing a potential buyer sees is your home's outer and inner walls. Newly painted rooms and spaces help homes feel and look more fresh, elegant, and up-to-date; easily adding value to your home. On average, a fresh coat of paint on the inside and outside of your home relinquishes a $4,000+ equity bump and can also revitalize your property.
#5: Upgrade Your Home's Finishes
Most of the time, frivolous changes can make a much more significant impact on prospective buyers than on a more elaborate renovation. Simple but effective upgrades such as; replacing outmoded light fixtures, reinstating worn-out sink faucets, or even modifying your front door can make a huge difference and give your property a pleasant boost in value.
One of the most pleasing, nonetheless effortless choices is installing a brand-new faucet. This upgrade can add a sleek, modern look to your bathroom or kitchen. When the proper style and design are selected, a pristine faucet can expand your property value and make your stay there much more pleasurable.
Most potential home buyers consider the bathroom attributes before purchasing a home. It's important to know what will work for you and your bathroom before anything else. If you don't have much space, you will most likely get a showerhead that's more suitable and doesn't occupy much space. For example, rainfall showerheads are awesome for small bathrooms. Potential home buyers that are on the hunt for a luxurious bathroom will most likely consider a home that has properly installed rainfall showerheads as well. Though a showerhead is a minute chunk of the entire house, it can assist in building up your property value.
There's nothing that dates a home's bathroom and kitchen more than old-fashioned, run-down door handles and drawer pulls. There are no excuses not to upgrade your door handles and cabinets when it's so easy and there are countless finishes to select from (glossy stainless, bronze, copper, or nickel). The best part is, the choice is all yours!
All in all, there are many ways to better your greatest investment, your home. While you look around and think about what improvements are worth making, try considering whether or not that project would make a buyer see your home as someplace they'd want to live. Regardless if you plan on upgrading to sell in the near future or if it's simply for you and your family's enjoyment, investing in your home is one of the best decisions you could make.
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